Wes Moore announced that the Board of Managers for PJM Interconnection has voted to extend its capacity market price cap through the end of the decade.
The decision follows advocacy from Moore and a coalition of 13 governors seeking to limit sharp electricity rate increases while long-term market reforms are developed. State officials said the extension is expected to reduce future energy costs for customers across the PJM region, including millions in Maryland, with projected regional savings totaling tens of billions of dollars.
Maryland officials, including leaders from the Maryland Energy Administration, said the extension builds on broader efforts to address energy affordability, reliability, and rising demand. These efforts include executive actions, proposed legislation, consumer relief programs, and policies related to large energy users such as data centers. PJM is expected to file amendments related to the price cap with the Federal Energy Regulatory Commission to apply the changes to future capacity auctions, while state leaders said they will continue to advocate for long-term solutions to manage costs and expand generation.
